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Don't expect Fed pivot if stocks plunge again -CIO

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Kevin Nicholson, global fixed income chief investment officer at Riverfront Investment Group,, said the S&P 500 has retraced nearly 38% of its downtrend since January, appearing to have put in a bottom for the year, but said the benchmark index could stay rangebound or decline, adding that the Federal Reserve won't pivot if stocks plunge again.

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